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TOWN OF LEXINGTON <br />TRUSTEES OF PUBLIC TRUSTS <br />Minutes of Meeting <br />January 24, 2006 <br />The meeting was held at 1:00 PM at the offices of Atlantic Trust at 100 Federal Street, <br />Boston, MA. Present were Trustees Alan Fields, Thomas Taylor and David Williams, <br />and David Ely from SSGA. <br />The minutes of the September 21, 2005 meeting were approved. <br />The portfolio was reviewed. David Ely reported that the portfolio showed a strong <br />performance for the past year. <br />In the Investment Pool it was decided to sell the entire preferred stock portfolio and move <br />the money into the Pimco All Asset Class Fund. Also to reduce the small cap equity <br />portion to 3% of the total allocation and increase the mid cap portion to 8 %. <br />In the two cemetery funds, it was decided to sell the S & P 500 fund in each fund and <br />invest 40% of each fund in equities from the legal list earning not less than 3% in the <br />aggregate, the balance of 60% to be in fixed income. <br />Next meeting on May 10, 2006 at 1:00 PM at 100 Federal Street. <br />Tom Taylor, Secy <br />